Our History & Portfolio

Company History

The foundation of Paragon Hotel Corporation was established in 1961 with the formation of Romney International Hotels by Phoenix hotel operator Wayne Romney. During the initial five years, Mr. Romney expanded the company to include eight hotel properties.

In the late 1960s, Romney International became affiliated with Jack R. Young and Associates of San Diego, preeminent hotel syndicates of the time. From 1968 to 1971, Romney and Young expanded the corporation to 42 properties. This rapid growth period included the acquisition of older properties with considerable deferred maintenance, creating the need for financial restructuring. The restructuring process was completed in 1971 with the purchase of Romney International by Western Financial Corporation. Immediate action began in determining the most expedient and prudent realignment of financial as well as personal assets.

Western Financial assigned several of their key executives to the task, among them were Jim Rhead, Paragon Hotel Corporation's President and Chairman of the Board. The decision was made to expand the company's efforts to provide an upgraded hotel product for its guests. With this goal in mind, ten additional properties were developed or purchased, bringing Romney's total hotel properties to 53 in 22 states.

With direction from the Federal Home Loan Bank, Western Financial began the process of liquidating the assets of Romney International in 1975-1976. The majority of Romney's hotel properties were sold during these two years. The remaining 22 properties were spun off from Western in 1977 with a leveraged buyout masterminded by officers of Romney International, two of whom remain as present Paragon Hotel Corporation owners.

In 1984, the Board of Directors voted to change the name of Romney International Hotels to the company’s current name, Paragon Hotel Corporation. At the same time, Paragon Hotel Corporation developed and relocated to its current office complex, Paragon Plaza. Since Paragon Hotel Corporation 's spin off from Western Financial, the corporation has completed development in excess of $300 million in new projects.

In summary, Paragon Hotel Corporation is a conservatively managed, privately held hotel operating company with extensive development, design, and purchasing capabilities and experience. Company officers have all been with the company for many years. They remain committed to Paragon Hotel Corporation 's excellence. Paragon Hotel Corporation is uniquely positioned with an experienced staff that possesses expertise in all phases of hotel development and operation and continues to aggressively seek profitable opportunities for growth. With more than five decades of involvement in the dynamic hotel industry, Paragon Hotel Corporation has a solid foundation of experience on which to build.

Property

Aloha Motor Hotel

Phoenix, AZ

150

Operator

Ash Fork Inn

Ash Fork, AZ

Owner / Operator

Best Western Chilton Inn

Deming, NM

Owner / Operator

Best Western Chilton Motor Hotel

Pueblo, CO

144

Owner / Operator

Best Western Chilton Motor Lodge

St. Louis, MO

120

Owner / Operator

Best Western Chilton Motor Lodge

Yuma, AZ

135

Owner / Operator

Best Western Cincinnati Airport Inn

Erlanger, KY

152

Owner / Operator

Best Western Lamplighter Motel

Hobbs, NM

Owner / Operator

Best Western Sands Motel

Ft. Smith, AR

130

Owner / Operator

Best Western Townsman

Pittsburg, KS

Owner / Operator

Best Western Winrock Inn

Albuquerque, NM

174

Operator

Beverly Apts.

Phoenix, AZ

Owner / Operator

Comfort Inn

Sedona, AZ

Operator

Comfort Suites

Maui, HI

324

JV/Developer

Days Inn

Show Low, AZ

112

Operator

Days Inn

Phoenix, AZ

170

Operator

Egyptian Motor Hotel

Phoenix, AZ

Owner / Operator

Embassy Suites

Baton Rouge, LA

224

Operator /Developer

Embassy Suites

Brookfield, WI

203

Developer/Operator

Embassy Suites & Conf. Center

Tucson, AZ

204

Developer/Operator

Evergreen Inn

Flagstaff, AZ

150

Owner / Operator

Four Seasons Inn

Kanab, UT

Operator

Hampton Inn

Tucson, AZ

127

Developer/Operator

Hampton Inn & Suites

Flagstaff, AZ

126

Operator

Hilton Airport & Conf. Center

El Paso, TX

272

Operator / Developer

Hilton Airport & Conf. Center

Salt Lake City, UT

291

Operator

Holiday Inn & Conf. Center

Casa Grande, AZ

175

Developer/Operator

Holiday Inn & Conf. Center

Casa Grande, AZ

Developer/Operator

Hotel Park Tucson

Tucson, AZ

217

Developer/Operator

Howard Johnson

Phoenix, AZ

132

Operator

Los Abrigados Resort

Sedona, AZ

186

Operator / Developer

Los Viajeros

Wickenburg, AZ

Operator

Mission Hills Viscount

Rancho Mirage, CA

250

Developer

Oasis Motor Hotel

Phoenix, AZ

Owner / Operator

Quality Inn

Sedona, AZ

101

Operator

Quality Inn

Flagstaff, AZ

132

Operator

Ramada Five Flags Inn

Flagstaff, AZ

Owner / Operator

Ramada Inn

Bozeman, MT

150

Operator / Developer

Ramada Inn

Burlington, CO

104

Operator

Ramada Inn

Butte, MT

129

Owner / Operator

Ramada Inn

Dalton, GA

Owner / Operator

Ramada Inn

Emporia, KS

Owner / Operator

Ramada Inn

Folkston, GA

121

Owner / Operator

Ramada Inn

Fort Dodge, IA

140

Owner / Operator

Ramada Inn

Fort Worth, TX

102

Owner / Operator

Ramada Inn

Goodyear, AZ

Owner / Operator

Ramada Inn

Harlingen, TX

150

Owner / Operator

Ramada Inn

Idaho Falls, ID

135

Owner / Operator

Company History

Hotel and Resort Management Experience

Property